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FEDERAL RESERVE BOARD X - 4 5 4 1 washington ADDRESS OFFICIAL CORRESPONDENCE TO THE FEDERAL RESERVE BOARD February 25, 1926. SUBJECT: Code wordB for use between the Federal Reserve Bank of IJew York and other Federal reserve banks in connection with certain telegraphic transactions in U.S. Government securities. Dear Sir; Referring to the cod# word for use between the Federal Reserve Bank of Hew York and other Federal reserve banks in connection with certain telegraphic transactions in TJ. S. Government securities, the Board's letter X-4111 dated July 12, 1924, authorizes the use of the code word "MOAITING" , covering the placing of subscriptions with the Treasury for Government securities to replace maturing issues held in the Special Investment Account* It is now requested that the code word referred to above be cancelled in the Federal Reserve Telegraphic Code and in l i e u thereof, effective March 15, 1926, the following new code word be used between the Federal Reserve Bank of New York and other Federal reserve banks to cover the corresponding transaction: "MOLLIFY" Have arranged with Treasury for subscription by reserve banks to new issue to replace maturing issues held in Special Investment Account, Will you, therefore, place subscription for $ representing your proportion of new securities advising Treasury that payment will be made by $ maturing certificates and $ maturing notes* Please wire us amount of your allotment on this exchange subscription, and on payment due date credit Treasurer with amount of allotment and debit Treasurer with same amount as transfer of funds to Hew York* Also as soon as allotment i s received request Commissioner of the Public Debt to authorize the Federal Reserve Bank of New York to make delivery for your allotment account of the amount of your allotment on System investment subscript!#^ - 2 ~ X-4541 ±71. A code word, has also been designated to cover an additional transaction as submitted by the Federal Reserve Bank of New York and i s as follows: "MOLLUSKS" Referring to your MOLLIFY telegram Treasury has allotted this bank $ of subscription for Special Investment Account. On payment due date we will credit and debit Treasurer's account as arranged and have requested Commissioner of the Public Debt to authorize your bank to make delivery for our a l l o t ment account of the amount stated herein. The code words indicated should be inserted in the Federal Reserve Telegraphic Code at the end of page 154 following the code word "MOLLIFIED". Yours very truly, J. C. Noell, isistant Secretary. TO GOVERNORS OF ALL F.R.BAIIKS.
@FedFRASER